Several asset management companies have recently submitted changes to their Ether ETF products to the US Securities and Exchange Commission (SEC). On June 21, VanEck, BlackRock, Grayscale, and Invesco Galaxy Digital updated their S-1 filings after market close. Earlier that day, Fidelity also filed a new form with the SEC.
VanEck’s updated filing revealed a management fee of 0.20% for its Ether fund, which is close to the proposed fee by Franklin Templeton – 0.19%. BlackRock has not yet announced the management fee for its iShares Ethereum Trust (ETHA). Bloomberg analyst Eric Balchunas noted that VanEck’s fee may put pressure on BlackRock to keep its fee below 30 basis points.
These changes follow previous filings submitted in recent weeks. Approval of the S-1 forms is among the final steps before these funds can debut on Wall Street exchanges. Balchunas expects these ETFs to launch in the first week of July, just before US Independence Day.
In May, the SEC approved a rule change allowing large asset managers to list and trade eight spot Ethereum ETFs. These managers include VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
On June 19, Bitwise updated its ETF proposal with the SEC, highlighting a potential $100 million investment from Pantera Capital upon the fund’s launch.
Additionally, Hashdex is seeking regulatory approval for a new spot ETF that combines Bitcoin and Ethereum. This comes after Hashdex recently abandoned its plans for an ETF focused solely on ETH.